Daewoo was founded in 1967 by Kim Woo Choong with a very modest initial share capital. From that, Daewoo has made it to the number four largest conglomerate in South Korea in its most successful years. Daewoo means “Great Universe” and in fact, the conglomerate was present in very different markets from motor vehicles to shipbuilding, heavy industry, aerospace, consumer electronics, telecommunications, and financial services.